Global business association highlights “severe” challenges with EU CBAM
The world’s largest business association has written to the European Commission’s director general for taxation and customs union to call attention to the “severe” challenges companies have faced in complying with the first reporting period of the EU’s Carbon Border Adjustment Mechanism (CBAM).
Read MoreEU steel association revises down 2024 outlook on sluggish demand
EU steel association Eurofer has lowered its 2024 consumption forecast for the 27-nation bloc, citing worsening geopolitical tensions, growing economic uncertainty, high energy prices, inflation, and interest rates as factors that are adversely affecting demand.
Read MoreCBAM must tackle recycled aluminium emissions loophole, industry and NGOs say
The EU’s carbon border adjustment mechanism (CBAM) will drive up prices of aluminium, as it fails to address a loophole for process scrap that could lead to vast amounts of carbon emissions being imported into the bloc, a report by a consulting firm and a panel of industry and NGO experts warned this week.
Read MoreANALYSIS: CBAM hedging unlikely to have impact on EU ETS market, experts say
Some companies, including international ones, are already trying to hedge their CBAM certificate exposure by buying EUAs on the forward market, but this additional demand will not impact EUA prices, according to market observers.
Read MorePublic prefers nature-based to engineered carbon removals, study finds
Carbon removals based on nature-based solutions are generally preferred to engineered approaches amongst the general public in 22 countries, according to a study published on Wednesday.
Read MoreEU lawmakers make final appeal before elections to save the Green Deal
Members of the European Parliament made one last rallying cry to salvage the Green Deal this week, as the bloc’s flagship climate neutrality programme faces an uncertain future with the prospect of a larger far-right presence following upcoming EU elections.
Read MoreBRIEFING: Sweeping corporate due diligence law, requiring climate transition plans, passes EU Parliament
The European Parliament approved sweeping new rules on Wednesday that will oblige companies to mitigate their negative impacts on human rights and the environment and adopt energy transition plans.
Read MoreNewly approved EU fiscal rules will slow down energy transition, critics say
New fiscal rules approved on Tuesday by the European Parliament will make it even harder for EU member states to invest in green projects, thus slowing down the energy transition and efforts to reduce emissions, according to Greens party lawmakers and environmental groups.
Read MoreAcademics warn of “paradox” of combining climate, industrial policies driven by populism
Industrial policy combined with climate goals can help to advance climate action, but it can also lead to protectionism and barriers that hinder clean technology progress, according to a paper published on Tuesday.
Read MoreThermal power in Russia to keep on dominating energy mix in next decade
Thermal power will continue to dominate Russia’s annual generation mix from 2024-35, according to a data and analytics company.
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